Chelsea leasehold conveyancing Example Support Desk Enquiries
Planning to complete next month on a basement flat in Chelsea. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Chelsea should include some of the following:
- You should be sent a copy of the lease
I have just started marketing my 2 bed flat in Chelsea.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Chelsea. Conveyancing advisers have not yet been appointed. Will they explain the issues?
Most houses in Chelsea are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Chelsea so you should seriously consider looking for a Chelsea conveyancing practitioner and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will appraise you on the various issues.
I am looking at a two flats in Chelsea which have about 50 years remaining on the leases. Do I need to be concerned?
There are plenty of short leases in Chelsea. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this field
We expect to complete our sale of a £450000 apartment in Chelsea next Tuesday . The managing agents has quoted £372 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Chelsea?
Chelsea conveyancing on leasehold apartments normally involves the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address such questions most will be willing to assist. They are entitled invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, otherwise the charge is not strictly payable. Reality however dictates that you have little choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
Following years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Chelsea. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We can put you in touch with a Chelsea conveyancing firm who can help.
An example of a Lease Extension decision for a Chelsea premises is 150A Albert Palace Mansions Lurline Gardens in July 2013. The Tribunal determined that the premium payable for the new lease of the subject property was £42,069 This case affected 1 flat. The unexpired lease term was 57.06 years.